A lender is gathering information on loans for the purposes of HMDA reporting. Loans made on which of the following property types may be left out of the lender's reports?

A lender is gathering information on loans for the purposes of HMDA reporting. Loans made on which of the following property types may be left out of the lender's reports?

• A. Duplexes
• B. Apartment buildings
• C. Travel trailers
• D. Vacation homes

Answer: (C)

In the context of Home Mortgage Disclosure Act (HMDA) reporting, loans for certain types of properties do not need to be included in the reports. Specifically, loans on travel trailers may be omitted because these are generally not considered real estate or residential housing. HMDA focuses on home purchases, home improvement loans, and refinancing of principal residences, which are typically linked to properties that are classified as real property or dwellings. Duplexes, apartment buildings, and vacation homes all fall under the category of residential properties; therefore, loans secured by these types of properties are required to be reported because they are used for housing purposes. In contrast, travel trailers are not permanently affixed to land and do not typically serve as a permanent residence for individuals, which is why they are excluded from HMDA reporting. This distinction helps ensure that the HMDA data reflects lending patterns related to actual residential housing, rather than other forms of temporary or non-permanent living arrangements.

In the context of Home Mortgage Disclosure Act (HMDA) reporting, loans for certain types of properties do not need to be included in the reports. Specifically, loans on travel trailers may be omitted because these are generally not considered real estate or residential housing. HMDA focuses on home purchases, home improvement loans, and refinancing of principal residences, which are typically linked to properties that are classified as real property or dwellings.

Duplexes, apartment buildings, and vacation homes all fall under the category of residential properties; therefore, loans secured by these types of properties are required to be reported because they are used for housing purposes. In contrast, travel trailers are not permanently affixed to land and do not typically serve as a permanent residence for individuals, which is why they are excluded from HMDA reporting. This distinction helps ensure that the HMDA data reflects lending patterns related to actual residential housing, rather than other forms of temporary or non-permanent living arrangements.